Evercore ISI analyst Liisa Bayko lowered the firm’s price target on Akero Therapeutics (AKRO) to $38 from $50 and keeps an Outperform rating on the shares. The firm has updated its Akero model to reflect expenses consistent with Madrigal Pharmaceuticals (MDGL), which has already completed its Phase 3 program and is in the early stages of the commercial launch of Rezdiffra, as well as the recent raise of $367M. Akero is “in execution mode” with efruxifermin Phase 3 studies in F2-F3 MASH started in December and F4 MASH expected to start in Q2, the analyst noted.
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